Property listed by Remax Commercial and Investment Realty, Jonathan Taksa 213-817-1000
$1,795,000
We are pleased to present 230 N. Reno Street, a character-rich 10-unit multifamily property located in the heart of Los Angeles. Built in 1929, this beautiful Spanish-style building sits on a desirable corner lot and offers tremendous charm and architectural pedigree rarely available in today's market. The property features an… Read More excellent unit mix comprising eight (8) one bedroom, one-bath units and two (2) two-bedroom, one-bath units. The well-laid-out floor plans are flooded with natural light and enhanced by vintage hardwood floors, spacious interiors, and an on-site laundry facility, making it a sought-after living experience for tenants. 230 N. Reno is attractively priced with an in-place CAP rate of 6.02% and a 10.02 GIM, providing investors with strong current returns. There is significant upside potential as average rents of $2.39 per square foot remain well below market, positioning the property to achieve a stabilized market CAP rate of 8.63% and a GRM of 7.98. The surrounding area further enhances the property's appeal. Situated in a vibrant and dynamic neighborhood, residents enjoy immediate access to a wide variety of fine dining, nightlife, and retail establishments. The property's central location offers proximity to Downtown Los Angeles, Echo Park, and Silver Lake, areas known for their eclectic mix of culture, entertainment, and community amenities. Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
12
Square Ft.
6,160
Lot Size
0.1 Acres
Year Built
1929
MLS Number
25602049
30 Days Snapshot Of 90026
$1.80M
+18%
(avg) sold price
10
-28%
homes sold
74
+25%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1929, Building area total: 6,160, Levels: One, Living area: 6160, 1 story, 1 building
Heating
WallFurnace
Income
Gross income: $177,888, Net operating income: $108,073
Laundry
CommonArea
Lot
0.102 acres, 4,444 square feet, Size: 4,444
Parking
None
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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